Saturday, February 5, 2011

UCO Bank Loans


UCO Shelter is a UCO Bank Home Loan. The loan offers reasonable interest rates, which are calculated on the basis of reducing balance. This loan is meant for Indian citizens. The loan can be accessed for buying new flats or houses. Properties thus bought ought to be used for residential purposes only. Subject to some conditions, UCO bank housing loan is also available for buying housing plots for construction of houses.

Apart from repair, renovation and extension of existent structures, the bank also provides finance for purchasing old accommodation. However these structures need not be more than 30 years old and ought to be constructed as per regulations. These buildings also need to be free of tenants


Loan applicants need to have secured admission to certified technical or professional or higher or basic educational courses in India or overseas via merit based selection procedure.

The loan sanctioned depends upon the repayment capacity of the applicant. The upper loan ceiling for study in India is Rs. 7.50 Lac. The comparable figure for study abroad is Rs. 15 Lac


UCO Bank Education Loans are available for bright students who wish to pursue studies in certain specific courses in both India and abroad. Under this scheme parents also become co-borrowers along with the dependent student applicant

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